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Michael Pettis: China's Economic Growth Model Is Dying
Forward Guidance
Can the Chinese Government Influence Consumers Just to Buy More?
The Chinese government is trying to increase the country's consumption share of GDP. But can it influence consumers just to buy more? David Frum says there are only two ways to do this: reduce business profits, give more to ordinary people and increase debt. The latter way has already happened in China with household debt levels very high.
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